SENSEX, NIFTY50 trade on a flat note; IndiGo, Trent shares surge after Q3 earnings

The Indian equity benchmarks were trading on a flat note on Friday, October 30, as gains in Infosys, Trent, Sun Pharma, Eternal, Tata Consultancy Services and InterGlobe Aviation were offset by losses in State Bank of India, Reliance Industries, Bharat Electronics, Larsen & Toubro and Titan. The SENSEX traded in a band of 195 points and NIFTY50 index touched an intraday high of 22,977 and a low of 22,924.

As of 9:24 am, the SENSEX was up 35 points at 74,187 and NIFTY50 index slipped 9 points to 22,924.

Asian markets were trading sharply lower tracking an overnight selloff in US markets after disappointing September quarter earnings posted by Alphabet dented investors' sentiment.

Google-parent Alphabet Inc. failed to meet market expectations, with net income declining 25% and the company recording a negative free cash flow of $9 billion in the quarter under review.

Japan's Nikkei dropped 2.9%, South Korea's KOSPI index fell 5.4%, Taiwan Weighted plunged 3.11% and China's Shanghai Composite index fell 0.93%.

Overnight, tech heavy Nasdaq index dropped 1.4%, S&P 500 index fell 0.3% and Dow Jones Industrial Average slipped 0.25%.

Back home, selling pressure was broad-based as 12 of 15 major sector gauges compiled by the National Stock Exchange (NSE) were trading lower led by the NIFTY Consumer Durables index's 1.6% fall. NIFTY FMCG, Auto, Media, Metal, PSU Bank, Private Bank and Oil & Gas indices also fell between 0.2% and 0.6%.

On the other hand, pharma, IT and healthcare shares were witnessing buying interest.

Broader markets were also facing selling pressure as NIFTY Midcap 100 index fell 0.6% and NIFTY Smallcap 100 index dropped 1.02%.

Among the individual shares, Deepak Nitrite jumped as much as 9.41% to an intraday high of ₹1,616 after its net profit in September quarter jumped 29% to ₹144 crore from ₹111.65 crore a year earlier.

Trent was top gainer in the NIFTY50 index, the stock jumped as much as 6.92% to an intraday high of ₹3,060 after its net profit surged 23% YoY to ₹464 crore in the September quarter of FY27, in comparison to ₹377 crore in the same period a year earlier.

The retail chain operator’s revenue from core operations advanced 20% to ₹5,259 crore in the period under review, from ₹4,367 crore in the same period a year ago, as per the exchange data.

InterGlobe Aviation advanced 3% to ₹4,824 after its net loss narrowed to ₹1,879 crore in September quarter from ₹2,582 crore in the same period last year.

Country’s largest passenger aircraft carrier posted a notable increase in revenue at ₹23,364 crore, up 25.9% YoY as compared to ₹18,555 crore in the corresponding quarter of last year.

Sun Pharma, Infosys, Tata Consultancy Services, Eternal, HCL Technologies, Tech Mahindra, Power Grid, Cipla, ICICI Bank and Eicher Motors also rose between 0.4% and 1.8%.

On the flip side, Coal India was top loser in the NIFTY50 index, the stock fell 2.5% to ₹383 after it reported an increase of 53% in its consolidated net profit at ₹6,516 crore for the quarter ended September 30. Its net profit attributable to the owners for the same quarter in the last fiscal year was at ₹4,259 crore.

The company’s revenue from operations for Q2 FY27 grew 21% to ₹44,179 crore as against ₹36,553 crore reported in the corresponding quarter last fiscal year.

Bharat Electronics, Shriram Finance, Nestle India, Tata Steel, BSE, Reliance Industries, Ultratech Cement, Jio Financial Services, Adani Ports and Tata Consumer Products were top losers in the NIFTY50 index.

The overall market breadth was negative as 2,095 shares were declining while 933 were advancing on the NSE.